How to Send Money to Mexico: The 2026 Expert Guide

Part 1: The Personal Route (C2C)

Sending Money to Family and Friends

1️⃣ Cash Pickup Services (For Unbanked Recipients)

• The Players: Western Union, MoneyGram, Ria.
• The Reality: You pay for the convenience. Exchange rates on cash pickups often include a wider markup (spread) than digital transfers. However, they are reliable. If you send cash via Western Union, your relative can usually walk into an OXXO or Elektra store within minutes to pick it up.
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2️⃣ Consumer Remittance Apps (For Banked Recipients)

• The Players: Remitly, Wise (Personal), Xoom.
• The Reality: These apps are fighting a price war, which is good for you. They usually offer better rates than cash pickup services.
  • Pro Tip: Always check the "Total Cost" (Fee + Exchange Rate Markup). Some apps advertise "$0 fees" but hide a 2-3% markup in the exchange rate.

Part 2: The Business Route (B2B)

Paying Suppliers, Payroll, and Service Providers

Why Business Payments Are Different

1. Transaction Limits: Most consumer apps cap you at $2,999 or strictly limit monthly volume. Business invoices often exceed $10,000 or $50,000.
2. Tax Compliance (The RFC Factor): Mexican tax laws are strict. To deduct expenses, Mexican businesses often need payments to be properly referenced with their tax ID (RFC). Personal transfers rarely carry the correct data fields for corporate reconciliation.
3. Invoices & Reconciliation: Your finance team needs to match outgoing funds to a specific invoice. "Sent from iPhone" doesn't satisfy an auditor.
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The Standard B2B Options (And Why They Often Fail)

1️⃣ Traditional Bank Wire (SWIFT)

• The Problem: It relies on the SWIFT network. This means your money hops through intermediary banks before reaching Mexico.
• The Cost: You pay a wire fee ($25-$45), plus the exchange rate markup (often 3-4% at major banks).
• The Speed: It can take 2-5 days. In the world of just-in-time manufacturing, waiting a week for funds to clear can delay your shipment.
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2️⃣ Corporate Credit Cards

• The Problem: Most Mexican B2B suppliers will not accept a credit card due to the high merchant processing fees. If they do, they will often add a 3-4% surcharge to your invoice to cover their costs.
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Part 3: The Modern B2B Solution

Global Business Accounts & Local Rails

Leveraging the SPEI Network

Part 4: Technical Requirements for Mexico

1. The CLABE Number (Crucial)

• Note: Do not confuse this with the 16-digit debit card number. For B2B payments, you must ask your vendor specifically for their "CLABE Interbancaria."
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2. The RFC ID

• For Individuals: 13 characters.
• For Companies: 12 characters.
• While not strictly required for the technical transfer of funds in all systems, including the RFC in the reference field is often critical for your supplier so they can legally credit the payment and issue you a valid tax invoice (Factura).
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3. Beneficiary Name Matching

Conclusion: Which Method Should You Choose?

• Scenario A: You are sending $300 to your cousin.
  • Solution: Use a consumer app like Remitly or Wise. It’s fast, cheap for small amounts, and easy to use on your phone.
• Scenario B: You are a business paying $15,000 to a manufacturer.
  • Solution: Do not use a bank wire. It is too slow and expensive.
  • Recommendation: Open a PhotonPay Global Business Account. By leveraging the local SPEI network, you ensure your supplier gets paid instantly, you save significantly on FX costs, and you maintain a compliant, professional financial workflow.